Halifax House Price Index for June 2025
House prices hold steady as market activity picks up pace
• House price growth flat in June at 0.0% vs dip of -0.3% in May
• Average property price now £296,665 compared to £296,782 last month
• Annual rate of growth edges down to +2.5% from +2.6 in May
• First-time buyer numbers have returned to pre-stamp duty change levels
• Northern Ireland has by far the strongest annual price growth in the UK
Amanda Bryden, Head of Mortgages, Halifax, said:
“The UK housing market remained steady in June, with the average property price effectively
unchanged over the month, following a slight drop of -0.3% in May. At £296,665, the average house
price is still around +2.5% higher than this time last year.
“The market’s resilience continues to stand out and, after a brief slowdown following the spring stamp
duty changes, mortgage approvals and property transactions have both picked up, with more buyers
returning to the market. That’s being helped by a few key factors: wages are still rising, which is
easing some of the pressure on affordability, and interest rates have stabilised in recent months,
giving people more confidence to plan ahead.
“Lenders have also responded to new regulatory guidance by taking a more flexible approach to
affordability assessments. Over the last two months, we’ve already helped an additional 3,000 buyers
– including more than 1,000 first-time buyers – access a mortgage they wouldn’t have qualified for
before.
“Of course, challenges remain. Affordability is still stretched, particularly for those coming to the end
of fixed-rate deals. The economic backdrop also remains uncertain; while inflation has eased, it’s still
above target, and there are signs the jobs market may be softening.
“But with markets pricing in two more rate cuts from the Bank of England by year end, and the
average rate on newly drawn mortgages now at its lowest since 2023, we continue to expect modest
house price growth in the second half of the year.”
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